SEC’s XRP Suit: Crypto Analyst States “We Should All Be Rooting for Ripple To Win”

Ripple Exec Xrp Cbdc Stablecoin

In a recent video full of interesting forecasts for 2022, popular New Zealand based crypto analyst and influencer Lark Davis described to the over 476K subscribers of his YouTube channel why the crypto community should be “rooting for Ripple to win” the claim brought by the U.S. Securities and Exchange Commission (SEC) against the Californian FinTech firm.

This video was about a Twitter thread Davis had actually published on December 16 in which he exposed his top 8 “stunning” crypto-related forecasts for 2022.

One of these predictions had to do with Ripple. As you may remember, on 22 December 2020, the SEC announced that it had “filed an action against Ripple Labs Inc. and 2 of its executives, who are likewise significant security holders, alleging that they raised over $1.3 billion through an unregistered, continuous digital asset securities offering.”

In the video released on December 27, Davis states that Ripple will win this suit or at aleast he truly hopes the FinTech fiorm will do so. Davis says that the SEC has actually been behaving like a “school yard bully” and that the stance the SEC (and in specific its chairman Gary Gensler) has taken– which is that nearly all cryptoassets currently noted on exchanges are unregistered securities– severly restricts the involvement of U.S. based investors in the crypto space (for instance, he says that they are not allowed to take part in ICOs).

Davis went on to state that if Ripple wins this case, it will “set a major predecent” and it will put the SEC “in its location”. He states that is why everyone in the crypto community ought to be “rooting for” Ripple to win. He believes that would be a “net favorable” for the crypto industry. On the other hand, if the SEC wins against Ripple, he believes that this will givbe them the self-confidence to bring suits versus a wide array of tokens.

Disclaimer The views and opinions revealed by the author, or any people mentioned in this article, are for educational purposes only, and they do not constitute monetary, financial investment, or other suggestions. Buying or trading cryptoassets includes a risk of financial loss.

Image Credit

Featured Image by “_ anaposa _” by means of Pixabay


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